Spain banks ECB fund dependence unchanged in November

Published December 14, 2012

| Reuters

Spanish banks borrowed 365 billion euros ($478 billion) from the European Central Bank in November, virtually unchanged from October, data from the Bank of Spain showed on Friday.

The amount of borrowing has fallen from the 411 billion euros hit in August before the ECB pledged to buy bonds of struggling euro zone periphery states should they request aid, which eased funding conditions and allowed some Spanish banks to return to capital markets. ($1 = 0.7641 euros)

(Reporting By Jesus Aguado; Editing by Tracy Rucinski)

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